SEIS and EIS Compliance Checklist

A practical checklist that founders and their advisers can work through before, during and after a SEIS or EIS round. It sets out each qualifying condition, gives space to record the evidence, and includes the ongoing three-year conditions and the steps for submitting a compliance statement and issuing certificates to investors.

• When planning a round and before applying for advance assurance
• On the day the shares are issued (Part E)
• At each board meeting during the three-year qualifying period (Part F)
• When preparing the SEIS1 or EIS1 compliance statement (Part G)

• Check every figure in Part A against the current HMRC guidance and fill in the brackets
• Mark each item Yes / No / N/A and record where the evidence is kept
• Any “No” should be resolved, or advice taken, before shares are issued
• Keep the completed checklist with the board minutes for the round